Berjaya Corp plans to list 51.62%-owned Singapore medical services unit

Berjaya Corp plans to list 51.62%-owned Singapore medical services unit
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KUALA LUMPUR (July 13): Berjaya Corp Bhd (BCorp) is planning to list its 51.62%-owned unit Singapore Institute of Advanced Medicine Holdings Pte Ltd (SIAMH) on the Catalist Board of the Singapore Stock Exchange.

In a filing with Bursa Malaysia on Wednesday (July 13), the group said PrimePartners Corporate Finance Pte Ltd (PPCF), a boutique corporate finance firm in Singapore, has been appointed to act as the sponsor, issue manager and placement agent for the proposed initial public offering.

“Details of the proposed listing, financial effects on the BCorp Group and other developments, if any, will be announced in due course,” said the diversified group, whose businesses range from hospitality and real estate development to consumer products, food & beverage and lottery operations.

According to BCorp’s annual report, SIAMH is principally involved in the provision of medical laboratory services, clinic and other general medical services, sale of pharmaceuticals, surgical and consumables.

The group, which is 35.18%-owned by founder Tan Sri Vincent Tan Chee Yioun, reported a net profit of RM5.8 million for the nine-month period ended March 31, 2022 (9MFY22), versus a net loss of RM196.22 million a year ago.

Revenue grew 2.8% for 9MFY22 to RM5.86 billion, from RM5.70 billion in the previous corresponding period.

Shares of BCorp closed unchanged at 24.5 sen apiece on Wednesday, giving the group a market capitalisation of RM1.44 billion.

Tan Choe Choe